France eyes billions of investment in AI

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PARIS: France has secured tens of billions of dollars in foreign capital pledges for artificial intelligence and data center infrastructure on Monday. The investments were unveiled at Versailles Palace during President Emmanuel Macron’s annual ‘Choose France’ summit, which brought together some 200 top global business executives.

Leading the major tech surge, Japanese investment giant SoftBank announced plans to spend 75 billion euros on artificial intelligence infrastructure, while Canadian asset manager Brookfield is expected to invest $10 billion into a northern French data center.

Additionally, firm partners Ardian and Verne committed $5 billion to a Paris-region data platform, and Taiwan's Foxconn pledged 120 million euros for an AI motherboard production line.

The summit reinforces France's status as Europe's leading destination for foreign projects, despite domestic concerns over depressed corporate manufacturing sectors. President Macron aims to establish France as a global AI pioneer through these massive private partnerships.